Well, I think that I can answer my question by myself:
The advantage of having the LDOs on-chip is that they provide tighter control over the processor voltage: They are trimmed to high precision and can reject the voltage ripple on the power source.
If one can provide a very precise, low voltage ripple power supply, it seems to be possible to bypass the LDOs. Table 9 of the datasheet defines the required voltages, also for the "Run mode: LDO bypassed". Unfortunately, there is no spec on the allowed maximum voltage ripple.
The disadvantage of this LDO-on-chip concept is a more complex layout. A 6 layer PCB seems not to be possible.
Other ideas are still welcome!
Kind regards,
-Rob